GE Capital's Telecom, Media and Technology Business Recaps Busy 2013
February 27, 2014
Provides more than $5.5 billion over 59 deals across TMT spectrum
NORWALK, CT --- Feb. 27, 2014 --- GE Capital's Telecom, Media and Technology (TMT) financing business today announced it completed 59 deals totaling more than $5.5 billion during 2013. The TMT business addressed the financial needs of customers in the cable, data center, metro fiber, radio, TV, digital media and software industries, among others
"We bring significant industry knowledge to our client relationships," said Pete Foley, senior managing director of GE Capital's Telecom, Media and Technology team. "We fully leverage GE's media and technology expertise to structure smarter, more flexible credit facilities that help our customers achieve their growth goals."
Below is a brief description of several noteworthy 2013 transactions:
Connoisseur Media
In May of 2013, GE Capital acted as administrative agent on a new $75 million credit facility for Connoisseur Media to fund their acquisition of certain assets of Cox Media and Nassau Broadcasting. GE Capital Markets served as joint lead arranger and joint bookrunner on the transaction. Connoisseur Media is one of America's fastest growing media companies. Based in Westport, Connecticut, the company owns 37 radio stations operating in 13 markets around the United States.
"GE Capital provides tailored financing solutions that have fueled our growth," said Jeffrey Warshaw, CEO of Connoisseur Media. "We appreciate GE Capital's unique knowledge and understanding of the media industry."
iParadigms
In April of 2013, GE Capital acted as administrative agent on a $185 million senior credit facility for iParadigms, a leading provider of cloud-based educational technologies to prevent plagiarism, verify content, and evaluate students' written work. GE Capital served as joint lead arranger and joint bookrunner on the transaction.
"Operating in the rapidly developing cloud-tech arena, we need our lender to have experience in this industry," said Chris Caren, Chairman and CEO of iParadigms. "GE Capital understands our business"
James Cable
In July of 2013, GE Capital acted as administrative agent on a $70 million senior credit facility supporting BBH & BCI Management's acquisition of James Cable, a provider of incumbent video, HSD, and telephony to subscribers in Georgia, Oklahoma/Texas, Louisiana, Wyoming, and Tennessee.
About GE Capital, Telecom, Media and Technology
GE Capital's Telecom, Media and Technology business provides financing to enable corporate growth, acquisitions and balance sheet refinancings to companies in the following industries: cable, towers, data centers, wireless, metro fiber, radio, TV, digital media, education services and software. It also finances technology companies that enable these industries. With Access GE, clients also benefit from access to GE's best practices. Visit gecapital.com/tmt.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital).
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
Contacts:
Alexandra Abrams
(312) 441-7356, alexandra.abrams@ge.com
GE Capital, Americas
Ned Reynolds
(203) 229-5717, ned.reynolds@ge.com
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